Americans are notorious for not utilizing their vacation time to its full potential. Despite the majority of workers deeming paid time off as extremely important, many still leave days unused. Elizabeth Grace Saunders, a time management coach, stresses the importance of taking vacation time to honor our biological need for rest and refreshment. However, with
Personal
In a recent interview, Kelly Harry shared her experience of realizing she was severely underpaid while working as an account executive in ad sales in New York City. Initially content with her $40,000 salary, it wasn’t until a coworker mentioned earning $102,000 that she recognized the discrepancy. Kelly, an immigrant protected under DACA, admitted she
In recent years, TikTok has become a goldmine for financial advice, tips, and tricks, particularly for Generation Z. Also known as #FinTok, this platform has gained immense popularity as a source of financial information, considering the generation’s preference for seeking guidance online rather than from traditional financial advisors. According to the CFA Institute, Gen Zers
In the United States, there are several financial thresholds that are adjusted for inflation annually to help households keep pace with the rising cost of living. However, not all thresholds receive this inflation adjustment, and the decision on whether or not to adjust for inflation largely depends on lawmakers’ discretion at the time the legislation
When it comes to retirement savings, higher earners often face limitations on certain tax-advantaged accounts like Roth IRAs due to income restrictions. However, there is a lesser-known strategy that could benefit those looking to maximize tax-free growth for their retirement savings. Mega backdoor Roth conversions offer a way for individuals to surpass Roth IRA income
The job market in America is experiencing a significant shift in hiring trends, particularly in relation to income levels. For lower-earning Americans, the pace of hiring has remained strong, exceeding the pre-pandemic baseline. The hire rate for workers earning less than $55,000 a year has been consistent at 1.5% since September 2023, according to Vanguard.
As many Americans approach retirement age, the question of financial stability becomes increasingly important. However, recent research from the Schwartz Center for Economic Policy Analysis sheds light on a concerning trend – unpaid student loans are placing millions of older individuals at risk of financial insecurity post-retirement. The study delves into the financial situations of
The Delaware College of Art and Design recently made the difficult decision to close its doors due to low enrollment numbers for the upcoming school year. This closure was attributed in part to issues with the new Free Application for Federal Student Aid (FAFSA). The college’s president, Jean Dahlgren, acknowledged the long-standing challenges faced by
When it comes to claiming Social Security retirement benefits, experts agree that it’s generally best to delay claiming. This means waiting until full retirement age, which is typically between age 66 and 67, or even longer until age 70 to receive the highest benefit amount. Despite this advice, many individuals still choose to claim early
Roth individual retirement account conversions have seen a significant increase in 2024, with a 44% year-over-year rise in the number of conversions during the first quarter, according to data from Fidelity Investments. A Roth conversion involves transferring pretax or nondeductible individual retirement account funds to a Roth IRA, which offers tax-free growth in the future.